In this video, I have discussed: " what is demand Forecasting?"
Demand forecasting is the systematic process to evaluate future demand for a specific product. It allows you to examine the sales scientifically over upcoming weeks, months and years, so that you know exactly how much stock to order and hold at any given time period.
Topics I have discussed in this video are:
1. Definition of demand forecasting.
2. Steps in demand forecasting.
3. Methods of demand forecasting or techniques - A. Qualitative methods. Examples of qualitative methods are,
The Delphi technique, Salesforce opinion, Market research.
B. Quantitative methods. Examples of quantitative methods are,
Trend projection method, Barometric technique, Econometric forecasting technique.
4. Why is demand forecasting important?
What is forecasting? - • What is Forecasting? |...
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